Dallas Mavericks owner Mark Cuban wants the Securities and Exchange Commission to pay his legal fees from his fight against its insider trading case against him.
In court filings, Cuban cites alleged misconduct by the agency and requests that it be sanctioned for its "bad faith."
The SEC had sued Cuban claiming he engaged in insider trading when he sold his stake in an Internet search engine company, Mamma.com Inc. U.S. District Judge Sidney A. Fitzwater of Dallas dismissed the case on July 17.
SEC spokesman John Nester said the agency looks forward to dealing with the motion "as we consider taking our insider trading case against Mr. Cuban up on appeal."
Copyright AP - Associated Press
